JFNAX vs. GGHCX

Last updated Jun 4, 2026

JFNAX (Janus Henderson Global Life Sciences Fund Class A) and GGHCX (Invesco Health Care Fund) are both Health & Biotech Equities funds. Over the past 10 years, JFNAX returned 10.23%/yr vs 6.18%/yr for GGHCX. Their correlation of 0.94 suggests significant overlap in exposure. JFNAX charges 0.98%/yr vs 1.04%/yr for GGHCX.

Performance

JFNAX vs. GGHCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Global Life Sciences Fund Class A (JFNAX) and Invesco Health Care Fund (GGHCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JFNAX achieves a -3.68% return, which is significantly higher than GGHCX's -7.49% return. Over the past 10 years, JFNAX has outperformed GGHCX with an annualized return of 10.23%, while GGHCX has yielded a comparatively lower 6.18% annualized return.

JFNAX

• 1D: -2.63%
• 1M: -1.54%
• YTD: -3.68%
• 6M: -2.10%
• 1Y: 24.85%
• 3Y*: 9.12%
• 5Y*: 6.84%
• 10Y*: 10.23%

GGHCX

• 1D: -1.62%
• 1M: -1.75%
• YTD: -7.49%
• 6M: -9.37%
• 1Y: 5.88%
• 3Y*: 4.48%
• 5Y*: 2.39%
• 10Y*: 6.18%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JFNAX vs. GGHCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JFNAX Janus Henderson Global Life Sciences Fund Class A	-3.68%	24.61%	3.41%	7.35%	-2.86%	6.59%	25.42%	28.98%	4.00%	22.35%
GGHCX Invesco Health Care Fund	-7.49%	15.48%	3.96%	3.05%	-13.53%	12.05%	14.52%	32.01%	0.27%	15.51%

Correlation

The correlation between JFNAX and GGHCX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jul 7, 2009	0.94

The correlation between JFNAX and GGHCX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

JFNAX vs. GGHCX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JFNAX

JFNAX Risk / Return Rank: 38
JFNAX Sharpe Ratio Rank: 35
JFNAX Sortino Ratio Rank: 36
JFNAX Omega Ratio Rank: 32
JFNAX Calmar Ratio Rank: 47
JFNAX Martin Ratio Rank: 38

GGHCX

GGHCX Risk / Return Rank: 5
GGHCX Sharpe Ratio Rank: 6
GGHCX Sortino Ratio Rank: 6
GGHCX Omega Ratio Rank: 5
GGHCX Calmar Ratio Rank: 5
GGHCX Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JFNAX vs. GGHCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Global Life Sciences Fund Class A (JFNAX) and Invesco Health Care Fund (GGHCX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	JFNAX	GGHCX	Difference
Sharpe ratio: Return per unit of total volatility	1.71	0.46	+1.26
Sortino ratio: Return per unit of downside risk	2.50	0.74	+1.76
Omega ratio: Gain probability vs. loss probability	1.30	1.08	+0.21
Calmar ratio: Return relative to maximum drawdown	2.61	0.44	+2.17
Martin ratio: Return relative to average drawdown	8.33	1.02	+7.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JFNAX vs. GGHCX - Sharpe Ratio Comparison

The current JFNAX Sharpe Ratio is 1.71, which is higher than the GGHCX Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of JFNAX and GGHCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JFNAX	GGHCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	0.46	+1.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.15	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.36	+0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.57	+0.26

Drawdowns

JFNAX vs. GGHCX - Drawdown Comparison

The maximum JFNAX drawdown since its inception was -31.07%, smaller than the maximum GGHCX drawdown of -40.23%. Use the drawdown chart below to compare losses from any high point for JFNAX and GGHCX.

Drawdown Indicators

	JFNAX	GGHCX	Difference
Max Drawdown Largest peak-to-trough decline	-31.07%	-40.23%	+9.16%
Max Drawdown (1Y) Largest decline over 1 year	-9.71%	-13.53%	+3.82%
Max Drawdown (3Y) Largest decline over 3 years	-21.28%	-16.86%	-4.42%
Max Drawdown (5Y) Largest decline over 5 years	-22.29%	-25.37%	+3.08%
Max Drawdown (10Y) Largest decline over 10 years	-27.39%	-29.34%	+1.95%
Current Drawdown Current decline from peak	-6.57%	-11.85%	+5.28%
Average Drawdown Average peak-to-trough decline	-6.29%	-8.82%	+2.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	5.80%	-2.76%

Volatility

JFNAX vs. GGHCX - Volatility Comparison

Janus Henderson Global Life Sciences Fund Class A (JFNAX) has a higher volatility of 4.70% compared to Invesco Health Care Fund (GGHCX) at 4.40%. This indicates that JFNAX's price experiences larger fluctuations and is considered to be riskier than GGHCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JFNAX	GGHCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	4.40%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	10.96%	10.12%	+0.84%
Volatility (1Y) Calculated over the trailing 1-year period	14.86%	13.09%	+1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.85%	15.53%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.38%	17.45%	-0.07%

JFNAX vs. GGHCX - Expense Ratio Comparison

JFNAX has a 0.98% expense ratio, which is lower than GGHCX's 1.04% expense ratio.

Dividends

JFNAX vs. GGHCX - Dividend Comparison

JFNAX's dividend yield for the trailing twelve months is around 4.73%, less than GGHCX's 6.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGHCX Invesco Health Care Fund	6.15%	5.69%	5.17%	0.00%	0.00%	24.69%	6.44%	3.51%	8.81%	6.88%	2.24%	15.07%
JFNAX Janus Henderson Global Life Sciences Fund Class A	4.73%	4.56%	5.74%	4.28%	0.08%	9.90%	7.82%	6.18%	13.55%	1.03%	0.97%	8.93%

Frequently Asked Questions

Can I hold both JFNAX and GGHCX in my portfolio?

With a correlation of 0.91, JFNAX and GGHCX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JFNAX or GGHCX?

JFNAX has higher volatility (4.70%) compared to GGHCX (4.40%). In terms of maximum drawdown, JFNAX dropped -31.07% vs GGHCX's -40.23%.

Which has better risk-adjusted returns?

JFNAX currently has the higher Sharpe Ratio (1.71 vs 0.46), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.